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Fort Gratiot Plaza

$9,000,000

4025 24th Avenue, Lakeport, MI 48059

Active
Last Updated: 02/05/2026

8.15

Cap Rate

734,361

NOI

Details:
Cap Rate:    8.15%
NOI:    $734,361
Building Size:    86,923 sqft
Lot Area:    8.08 acres
Occupancy:    91.03%
Tenancy:    Multiple
Highlights:
  • NEW NATIONAL SOFT GOODS TENANT LOI – ENTIRE DARK GANDER MOUNTAIN SPACE
  • PRICED WELL BELOW REPLACEMENT COST / BELOW MARKET RENTS
  • STRONG CREDIT TENANT LINE-UP
  • STABLE TENANCY & INCOME STREAM
  • CAPEX IMPROVEMENTS
  • REGIONAL MALL LOCATION / BARRIERS TO ENTRY
Description:

Landmark Investment Sales is pleased to offer for sale Fort Gratiot Plaza, a well-located regional retail center anchored by a strong lineup of national and credit tenants. The property features a new, highly desirable national retailer under LOI for the entire former Gander Mountain space, while Gander Outdoors continues to pay dark rent through 2028, providing near-term income stability. Over 90% of in-place income is generated by nationally recognized tenants, including CSL Plasma, Harbor Freight Tools, and Salvation Army, with a weighted average lease term of approximately five years.

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Documents:
Title
071i_Fort_Gratiot_Plaza-Fort_Gratiot__MI-OM.pdf
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Location
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